Brokerages Set Bloom Energy Co. (NYSE:BE) Target Price at $16.44

Shares of Bloom Energy Co. (NYSE:BEGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $16.69.

A number of research analysts have commented on the company. Piper Sandler lowered their target price on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. BMO Capital Markets decreased their price objective on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 16th. KeyCorp downgraded Bloom Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, February 16th. Truist Financial upgraded Bloom Energy from a “sell” rating to a “hold” rating and increased their price target for the company from $9.00 to $11.00 in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. downgraded shares of Bloom Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $14.00 in a report on Friday, February 16th.

View Our Latest Research Report on BE

Insider Buying and Selling at Bloom Energy

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the sale, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders have sold a total of 67,782 shares of company stock valued at $658,463 in the last 90 days. Corporate insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds have recently bought and sold shares of the business. Millburn Ridgefield Corp purchased a new stake in Bloom Energy during the 3rd quarter valued at $33,000. Quest Partners LLC bought a new position in Bloom Energy in the fourth quarter worth approximately $51,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after acquiring an additional 1,117 shares during the last quarter. Quantbot Technologies LP raised its holdings in Bloom Energy by 27.8% in the 1st quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock worth $112,000 after purchasing an additional 1,017 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Bloom Energy during the first quarter valued at $123,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $11.75 on Friday. Bloom Energy has a 1 year low of $8.41 and a 1 year high of $20.34. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The stock has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $11.95. The firm has a market cap of $2.64 billion, a P/E ratio of -8.10 and a beta of 2.79.

Bloom Energy (NYSE:BEGet Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. Research analysts forecast that Bloom Energy will post -0.17 EPS for the current fiscal year.

About Bloom Energy

(Get Free Report

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.

Further Reading

Analyst Recommendations for Bloom Energy (NYSE:BE)

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